We’re thrilled to announce that SOFID is available for trading on Kraken!
Funding and trading
SOFID trading is live as of September 4, 2026.
To add an asset to your Kraken account, navigate to Funding, select the asset you’re after, and hit ‘Deposit’.
Make sure to deposit your tokens into networks supported by Kraken. Deposits made using other networks will be lost.
Here’s some more information about this asset:
SoFiUSD (SOFID)
SoFiUSD (SOFID) is a U.S. dollar payment stablecoin issued by SoFi Bank, N.A., a national bank regulated by the Office of the Comptroller of the Currency. It is designed to hold a stable value relative to the U.S. dollar and to function as a payment and settlement instrument rather than an investment product. SoFi Bank maintains reserve assets intended to at least equal the outstanding supply of SOFID. Under the SOFID Terms of Use, those reserves consist of high quality liquid assets, including U.S. currency held in cash or demand deposits and other cash equivalents permitted under applicable law.
SoFi publishes reporting covering outstanding supply and reserve composition, with attestations performed by an independent Certified Public Accountant licensed in the United States. Issuance and redemption at par are conducted by SoFi Bank with approved SoFi Customers under separate agreements. Holding or transferring SOFID does not by itself create a redemption right with the issuer, and secondary market prices may move above or below one U.S. dollar. SOFID is not a deposit, is not insured by the FDIC or SIPC, and is not legal tender. It does not pay interest or yield to holders. SOFID is issued on Ethereum and Solana.
Please note:
- Trading via Kraken App and Instant Buy will be available once the liquidity conditions are met (when a sufficient number of buyers and sellers have entered the market for their orders to be efficiently matched).
- Geographic restrictions may apply
Will Kraken make more assets available?
Yes! But our policy is to never reveal any details until shortly before launch – including which assets we are considering. All of Kraken’s available tokens can be found here, and all future tokens will be announced on our Listings Roadmap and social media profiles. Our client engagement specialists cannot answer any questions about which assets we may be making available in the future.
